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taxes, the economy has grown whether on the left with president kennedy or left with reagan. the left said clinton raised taxes and what is often ignored, clinton cut the capitol gains tax and he cut spending as aercentage of gdp. the obama administration want to go the opposite way, if they do they will make fdr a libitarian. >> jamull is it good or bad for the economy? >> i don't think the president said that they should take a hike if the tax hikings don't happen. our biggest problem are the spending cuts . bigger than that are the job losses, and so i am going to talk about tax cuts, a huge one to see happen the vernment should give tax cut to companies so they can hire new workerings, spending cuts and focusing on the dicit, that is moving us in the wronging direction. if we want to talk about tax cuts, give the corporations that are sitting on records and the dow closed at record highs, give them a tax cut to hire new workers. >> toby, tax hikings are the issue here. this is what dems are calling for. is this the time with the recovery, so, so iffy to do that? >> no remember the
this discussion many times. every time we cut taxes, the economy has grown whether on the left with president kennedy or left with reagan. the left said clinton raised taxes and what is often ignored, clinton cut the capitol gains tax and he cut spending as a percentage of gdp. the obama administration want to go the opposite way, if they do they will make fdr a libitarian. >> jamull is it good or bad for the economy? >> i don't think the president said that they should take a hike if the tax hikings don't happen. our biggest problem are the spending cuts . bigger than that are the job losses, and so i am going to talk about tax cuts, a huge one to see happen the government should give tax cut to companies so they can hire new workerings, spending cuts and focusing on the deficit, that is moving us in the wronging direction. if we want to talk about tax cuts, give the corporations that are sitting on records and the dow closed at record highs, give them a tax cut to hire new workers. >> toby, tax hikings are the issue here. this is what dems are calling for. is this the time with the recovery
to be fiscally responsible and reduce the deficit. to make velft to grow our economy and to meet our obligation to our seniors, to our families and to our future and the republican budget fails all three. republican budget threatens our nation by undermining our economic growth and by shifting the financial burden for the deficit, and the deficit reduction, to our seniors and the middle class. republicans have made their choices clear, end medicare as we know it, adding costs to seniors today and ending the medicare guarantee tomorrow, slashing investments necessary for economic competitiveness and giving millionaires an average of $400,000 in tax breaks. republican budget eliminates protection for millions of our sickest seniors who depend on nursing home and home health services and republican budget will increase taxes for average middle-class families by $3,000. their choices will cost two million jobs next year alone and decrease economic growth by 1.7%. in contrast, the democratic alternative present serves -- preserves the medicare guarantee and makes investments in education, innovation
security at this time is not the deficit. it is the economy. it is the lack of jobs. it is a future where the u.s. cannot compete with its global peers. this will bring us closer to that scenario. chairman ryan and i share wisconsin. this is a blue-collar county where people are proud of the work they do and they want to be working. but they are struggling. four years ago, 2000 employees lost their jobs. a company announced they were shutting down. we do not help them or america when we keep tax incentives for companies to ship jobs overseas instead of incentivizing companies to hire in wisconsin and in america. we do not help them when we cut programs and raise taxes on the middle class so we can lower the tax rates for the top earners in this country. that seems to be what we received in the budget that is on our guest today. budget should reflect values. what we need to do is focus on economic growth and how to get the people of america back to work. we need a real path to prosperity. when we invest in infrastructure, research, development, small business loans, we can increase competi
it is important to realize that it is possible to make investments in our economy today, create jobs, repeal the sequester, and still reduce our deficit in a responsible and laled way. -- and balanced way. in closing i urge my colleagues not to be scared by the rhetoric that sometimes we hear. instead, i urge my colleagues to support one of the multiple budget proposals that reduce our deficit responsibly while creating jobs today and protecting the important programs like medicaid and medicare for generations to come. i yield back the balance of my time. the speaker pro tempore: the gentlelady yields back her time. the gentleman from georgia. mr. woodall: thank you, mr. speaker. i yield myself such time as i may consume. i thank the gentlelady for being with me on the floor today. i'll say that we sometimes have some controversy in the rules committee, mr. speaker. there is a lot of responsibility that lies in the rules committee. with 435 folks here in this chamber. we all would like to have our say. we'd all like to have our say probably more than once. and the rules committee's tasked wi
our ailing economy and certainly not the answer for the hardworking folks back home in wyoming. when you start with one party doing the drafting and those who wrote the budget hold the majority on the budget committee, you can expect the bill to be one-sided. if you keep on doing whatever you a been doing, you can expect to get the same results. unfortunately, i believe that's what we'll see this week as we debate the budget here on the senate floor. the majority kept us in the dark on the budget until the last -- until last wednesday evening. we had to present our opening statements in the budget committee before we even sue the budget the majority -- even saw the majority the budget would offer. i do have to say in the defense of the majority that that's the way it's been for several years, both when the republicans were in charge and when the democrats are in charge. thea's thacharge that doesn't mean it is right. you have to share it. so then we had to turn around and start voting on the amendments the next morning in the budget committee and we weren't part of that process, beca
jobs and improve the economy in every one of our districts, in every state in the union. i would turn, if i could, to my colleague, mr. polcan, who has some of the rations. >> i am glad you brought this amendment forward, mr. blumenauer. when i was on the joint committee on finance, we were the only committee in the country that had to approve every single dollar that came through from the recovery dollars. in our state, every single dollar came to our committee. i got to see exactly where those investment dollars went to our transportation projects. we had a report at the time from the road building and vertical construction industry, not your most left-wing organization, that said 54,000 jobs were saved or created in wisconsin because of that investment in infrastructure. i remember sitting in this very room and i asked dr. elmendorf that same question. i said is it true, and he set up to 3.3 million jobs were saved or created because of those recovery dollars. i can tell you in wisconsin, we saw the benefit. it came from the private sector. we saw the benefit for small businesses -
idea. i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to present some o
food assistance to kids in this country and funding for r&d will drive our economy, but we can't appropriate a sum of money to fix the real cost of iraq. can't pay back the lives of 4,486 american men and women who have died there or the roughly 2,000 broken soldiers who came home and took their own lives. the wounded, physically and mentally, the soldiers who didn't know how not to be a soldier, the families living with a hole in their hearts and the families living with someone they no longer recognize. 10 years leaving their families, living in hell, coming home to unemployment and the homelessness, to a country that's forgotten that it's at war at all, to a country that seems to think a yellow ribbon magnet on their bumper is the only kind of support that oir troops need and the cost in iraq, untold deaths. let me rephrase that. unknown deaths. we can only guess at the destruction that we have left in our wake. 115,000 iraqis, 600,000, you can find the number, what was the long-term impact of that on the environment, the water and health? what happens when someone lives in
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
home building numbers today too. >> that too. we're in a niche market. the u.s. has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >>
the day. from the economy to earnings now. we get a number of interesting quarterly reports due today as well. before the bell, we'll hear from fedex, general mills and lennar and this afternoon we have oracle. a lot to chew on for the markets. s&p by the way coming off its first three-day decline of 2013. take a look at u.s. equity futures at this hour. green arrows across the board. and then of course there's cyprus. the country's leaders are holding crisis talks today trying it avert a financial meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignan
and the austerity he is putting in place has caused the economy to be really slow. >> a lot of tax increases over there in europe. we look at this austerity bit. i want to talk about this for a second. >> i want to get back to the budget then. >> talk about what is happening in washington. you know, economics discussed on tv or on the internet or on twitter, it's so depressing, because people really don't know what they are talking about and they just sort of boil it down and there is this belief through the years, that tax cuts are not a tool used. of course, tax cuts are a tool used and tax increases something that traditional are against in bad times. we hear about austerity across great britain and we never hear about the tax increases. when you talk about the fact they cut and slash spending at the same time they hike taxes, it really was a formula made to fail. >> spending cuts and tax increases both take money out of the economy and slow the economy and, yes, they create this idea of austerity. but, look. it's a balancing problem. on the one hand you need to deal with it budgets and defici
of the economy is about 18 billion euros, so the banking industry is four times the size of the economy. if you allow the banks to fail, much like letting citibank or jpmorgan here in the united states, that would have significant repercussion the in the economy. connell: where do you stand on the idea of the con cement spreading? could it happen in other countries was the question asked, it seemed like, in the markets this morning if it goes through on cypress, on to the next guy and next who have problems? >> that's a legitimate concern that the architect or one of the principle architects here, the imf, the ecb, and the european union and germany with a strong hand there. if they force this upon one country, who is to say they couldn't force it upon a larger, more important country? if europe were able to execute a plan like that, who is to say that the united states wouldn't look and say, well, they did it in europe, why couldn't we look here? connell: rule of law question; right? >> exactly. dagen: what's the solution? somewhere between forcing the haircut and letting banks fail? where is
is a big concern. china is a big concern. they said china's economy is showing symptoms that sparked the crisis in 2008, the warning and saying they risk financial crisis. obviously, concerns about china. i'm going to stick to the cypress theme and put it together. the vix, fear index popped. you see the 1275 right now, up 17%. at one point, up 13%. right now, let's look at the financials because they certainly reacted. in some cases, dramatically, and the idea of them taxing deposits there. citigroup down 2% and banks abroad hit harder. back to you. >> a full and complete report, thank you, nicole. >> for the bailout proposal, is the tax on bank deposits, and that is sparking outrage and fear that there's going to be a run on the banks there. david, chairman and chief investment officer of dumb beer land as visiers of -- cumberland, and why do you think it's a big deal, david? >> caller: well, the finance ministers, the decision has been announced. the cat is out of the bag. once you open the door to taxing a deposit when you have a liquidity crisis, you can never close the door aga
. that's good for 125th in the world. per sapt a gdp, $26,900. 71% of the economy service based. tourism big there. 20% is industry. 8.5% agriculture, mostly olives and citrus. in a nut shell, finance ministers are going to hold a conference call this evening to discuss a proposed bailout for the cypriot banks. the plan started this weekend included taking money from regular bank deposit, large and small, 6.75% to almost 10% if you've got more than 100,000 euros in an account over there. why are those banks in cyprus in trouble? they were heavily exposed to greek debt and we all know what happened there with the greek debt, both public and private. then the cypriot banks were national as ied to prevent an need colorado lapse. european regs, that's where the rest of europe comes in. instead of sending a bailout like it did in spain and greece, germany wants to raise money from actual people with deposits in those banks. here's how goldman sachs' paul o'neill summed it up on "squawk" this morning. >> i got off a plane from singapore saturday morning and i thought my jet lag was up but i wa
round of attacks on some big banks. on the economy, there is no bigger bowl man ryan westbury. those stories and much more, maybe even a new pope. dagen mcdowell joins me for market now. ♪ dagen: you are very low. go cardinal dolan. i am actually excited. smoke watch is 1150-215 eastern time. we will see. if there is no pope, it will probably be about 2:15 p.m. eastern time. cheryl: you know what, i can watch a smoke stack for a few hours. top of the hour, almost. stocks now and every 15 minutes. nicole petallides at the new york stock exchange. nicole: i enjoyed that analogy. they are both very entertaining. we are down, the dow is down about 14 points. six record closes for the dow jones industrial. a green arrow would mean a record close for the dow today. names like verizon, procter & gamble, alcoa are pressuring the dow. the s&p is going nowhere fast. boeing hit a new 52 week high. you have many retailers hitting new 52 week highs. we are seeing american spending on gasoline, auto sales, grocery stores. talk to you. dagen: where is the disposable income after that payroll tax
to do it this way, as for 2014, i thi it depends on the circumstances in the economy. if there is more obama fatigue. lou: can i say, watching the republican party with all prevail -- tre veil, i think that everyone better give up on idea of doing anything with the democrats and letting the economy doing the intellectual heavy lifting for the republican party, they better get ready to go. because, this is not going to be a default election, just as 2012 was. i have to -- i hate to do it, but we have to right there. anyway, thank yo thank you very, that is it for us, we hope you will be us tomorrow, congressman frank wolf of join us. on what is going on in the obama justice department, from new york. york. >> you know every liberal's dream that government seizing your money out right, there is nothing you can do about it. now no cyprus they could find out the hard way, this tiny island nation sent a tsunami shockwave to the rest of the world, keeping the banks closed until they find a more palatable way to. welcome i am neil cavuto, you got 10 grand in a bank account. how about waking
in a trillion dollars. you would still be left with a deficit and you would wreck the economy. martha: interesting lesson. stuart, thanks very much. we'll be watching it throughout the day as i know you will. let's look at bigger picture of europe's debt crisis. five countries needed bailouts from the european central bank and imf. greece, spain, ireland, portugal as stuart mentioned. germany the fifth biggest. great britain at number eight. france with the 9th largest. italy at number ten. they all shrunk in the last quarter of last year. europe is basically contracting. the eurozone is losing huge numbers of jobs. a record 19 million people are unemployed. it is a tough picture and one we need to watch closely here at home. bill: sure do. no telling when that thing will get straightened out. >>> more rough water for carnival cruise lines. another disabled ship of vacationers, limping back to port. legend arriving yesterday. a leading senator calling for a passenger bill of rights. what would be in that bill? peter doocy live in washington. what would this bill of rights do, peter? >
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
crude prices can tell us about the broader economy. stick around. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> good morning. welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures at this hour after giving back about 62, well off the lows yesterday. indicated that a bounce a little, but a time can happen between thou and 9:30 on the east coast. there's energy, you see crude
capital economy will flea to lower tax states. >> we have the right to change the rules op you after the fact, and that's what's nos fair. >> some in sacramento are trying to unwind this. california's not cypress, it's not taking, but to many, it is clearly unfair. >> no, it is. it is so unfair. i mean, changing the rules after the fact is crazy. william thank you for the report. >> you bet. >> well, in the mean time, a huge win if you're one who likes to resell things from ebay to yard sales, and itch ed -- rich edson in washington. rich? >> e bay and overstock.com love the decision. publishers, not so much. the supreme court questioned whether a student could buy cheaper, foreign made and sold textbooks and resell them in the united states for profit. copyrights permits sales only overseas, but the courts said no. once americans buy an item, they buy and resell it of the the other decision could have made it difficult to resell foreign items in the u.s.. libraries say the decision is a landmark win for consumers, small businesses, online marketplaces, retailers, and libraries natio
shall face a total collapse of the banking system and of the whole economy. >> reporter: such talk may well be brinksmanship. it's not. these people and many more across europe would be forever changed by the events of the past three days. >> woodruff: for a closer look at the crisis in cyprus and why it's captured the attention of europe and the u.s., we turn to jacob kirkegaard, a senior fellow at the peterson institute for international economics. welcome to the program. >> my pleasure. woodruff: why does tiny cyprus, a population just over one million, have europe, the markets, the government so rattled? >> i think there's two main reasons. first of all that europe is still kind of on the edge. it doesn't take much to shatter the sort of recent lull of confidence that you have had in europe in the last couple of months. unfortunately, i think cyprus is one such thing. and the other element is that what happens in cyprus and with respect to the cyprusian banks have a large precedent-setting effect for how europe going forward is going to deal with banking crises in other european co
economy and i suggest even our very way of life. we need a whole of america solution to this national problem, and the department of defense absolutely has a critical role to play in that effort. if you believe that the d.o.d. has a vested interest in having reliable sources of energy, you should agree that new fuels meet their needs. as i mentioned, we're all concerned about the effect of sequestration on our troops, but we can't solve our problems with the same kind of shortsighted thinking that got us here in the first place. killing the navy's boistles program -- biofuels program, make no mistake, that's what this this amendment would do, will cost more money than it saves. it will set back an destroy poised to provide our country with enormous and important benefits. and it will make sure, it will ensure we keep pouring money into foreign coffers. i want to urge my colleagues to continue to support smart investments in our future like the navy's biofuels initiative. therefore i urge my colleagues to oppose the toomey amendment. mr. president, thank you for your attention. i yield
economy and creates good jobs that american people need to support their families. we must balance our budget for our students. those who are currently in our universities and community colleges should feel confident that an investment in their education will lead them to good-paying jobs when they graduate. a balanced budget gives them that confidence that their future will not be threatened by staggering debt. most important we must balance our budget for our children and grandchildren who deserve the same chance of the american dream that we have been given. rather than handing them a bill for this generation's irresponsibility, a balanced budget will allow us to hand them a brighter future, an american future. our budget, a balanced budget, represents a departure from the status quo here in washington and it represents house republicans' commitment to moving our nation forward in a fiscally responsible way. i urge my colleagues to support this resolution and i yield back my time. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from maryland, m
of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. but not just by shifting the burden to seniors and disabled as the republicans propose in their fantasy budget. my home state of oregon is the middle of an exciting demonstration of how to squeeze out the waste we all know is there and realign incentives. instead of the empty ritual of pretending to repeal obamacare, let's work together to accelerate reform for all americans. if the oregon experiment works, and frankly many of these efeshencies by the way are already achieved in other parts of the country and with some private health systems, we could save more than $1.2 trillion that is the flawed sequester is suppos
newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: today's supreme court arguments pitted a national law against a 2004 arizona voter registration bill. the case explores the extent of state powers against the controversial backdrop of voting restrictions. arizona's proposition 200 requires state residents to provide either a driver's license, passport, birth certificate or physical proof of citizenship before they can vote. but an existing federal law requires only a sworn statement of citizenship on a voter registration form. supporters say the arizona measure cuts down on voter fraud by keeping noncitizens from voting. but opponents argue the la
states' economy -- housing is uniquely american. a lot of building products go into homes made right here. think about all the people who touch a home and away from its permit to its sale, builders, laborers, people who make piping, windows, doors, stoves, air conditioning, sinks, toilets, showers, baths, and, of course, electric and plumbing. then there's all the white collar jobs, the banks, sales, lawyers, they all get paid. and the retailers who need to make the place great. to me we will look back on this moment and recognize that while the whoever republican do you say rules imposed on the cypriots certainly damaged confidence in europe and the euro once again, what actually might have mattered in america is that the housing boom was picking up steam at the same time. i know, stupid. brilliant! so what am i asking for here. i'm trying not to be too positive or negative. but i'm definitely playing the skeptic. i worry about what i know and even worry about what i don't know. but most important, i want to emphasize what could drive the market either way. and the bottom line is, i thin
, that reagan laid for the incredible ground work of the economy in the 1980's and 1990's. clinton helped to some extent, ut then he created and repealed glass-steagall, and everybody blames it on george bush. the conservatives who didn't do much for the letter peace, we tried to expand under karl rove, the voting process, and giving more to hispanic community, and we didn't get one increase in vote in that eight-year period so. what makes you think that we're going to give amnesty and all the set get a bunch of votes? it's fraud, and it's another really ploy by the democratic party to keep promising and benefits to everybody who will vote for them no matter what. scommoip we're going to talk about immigration in our next segment of the "washington journal" today. but we still have about five minutes left in this segment, if you want to call in to give us your take on this growth and opportunities report that was released today, or if you think hanges in the republican debates would have helped republicans in the 2012 election. a couple of other stories to point out, the front page of the
? >> it used to be a stock market was a direct barometer of america and america's economy. that is not necessarily the case anymore. main street malaise and frustration is valid. wall street, particularly talking about the dow jones industrial average, talking about the 30 biggest companies in this country, that move is valid as well. these guys are getting profits from outside of this country. the world can't get enough products from ibm. caterpillar 70% of the its business outside of this country. parent company of kentucky fried chicken, they don't care what happens here, the news from china better be good or their stock goes up and down. anywhere near all the cylinders that we could fire on and american public knows there and obviously they're very frustrated by it. martha: what do we have to do to get growth cooking back in this country again, charles? >> i got to tell you, i don't know over the next four years we will have the exact gameplan we need to be quite frank with you. there is different agenda out there controlling things, anti-business, anti-success agenda.
of that was the contribution that, well, we didn't have secure borders and at a time when the economy is cratering, all of a sudden it became a very dark process, we're eating our own tail. more jobs for immigrants may have meant less jobs for someone else. and the way you lead yourself out of that is, no, no, everyone has something to con tribute. let's get an immigration process that brings people who want to come here, who want to become americans, who want to contribute to this country not take from this country. and that's always been the republican message. fortunately, they allowed a few republican media consultants to stay. i'm happy about that. but our problems are bigger than just hispanics or women or young voters. our problems are that as a party, you're supposed to lead people over the horizon to a better place. and we for got that. we thought our principles were just good for saying no, to be the brake pedal on the car, not to get our hands on the steering wheel. but you're seeing that change. these past couple of weeks, you saw change in the cast of characters in the republican party. it
over the past three years over an economy that's produced over 6.3 million private sector jobs and we have more work to do. and this president's number one priority is growth and job creation. >> what a bunch of-- there's 20 million more americans on food stamps, number one. and number two, we have one in six americans in poverty. what would dr. carson do if he was president. would you cut back? >> well, i would certainly cut back, but the pay i would cut is evenly, but i would give the managers of each department discretion because they know where the fat is. they're not going to cut the muscle, they're going to cut the fat. it seems like what the president is doing is trying to cut in the places where it hurts the most in order to prove a point and i -- if ever the mainstream media reaches a point where they recognize that if we destroy this nation and destroy the economy, they, too, will be destroyed, i think at that point they will start asking the tough questions and helping to move the population in the right direction. >> sean: don't hold your breath, dr. carson. i declared in
in our economy. a lot of people like me. look, i'm not going to do it anymore. you are going to come in for half or whatever, it's not worth my time. >> how is that good for our economy. >> bill: it's not. it's horrible for our country. >> i don't get how the liberal intelligence i can't isn't jumping off this guy's bandwagon they hang on like 14-year-olds with justin bieber. it's over. time to get off. >> bill: they're not going to do that it's just like ideology, you said it at the beginning of this interview. you are not coming at it from an ideological point of view. it's common sense. they don't want common sense. >> i feel like i'm being cat fished. i feel like obama's man tie at mid-atlantic at-man tie at a owe's new girlfriend. looks like something they smuggle drugs out of costa rica. the only reason is he there because is he has bigger boobs than putin does. sending him there and rodman to north korea. make honey boo boo the ambassador to tehran and complete. fitness. this guy is coming over to fitness. he has been in a moo moo for 15 years. why don't you have him over ther
a slow tart with worries about cyprus, a small country, small economy, but it plans to tax people's bank accounts their deposits because of their budget problems. that is raising new concerns about the stability of the european banking system and probably some worse on wall street, especially as we are up here near record highs and we are trading lower across the board and the silicon valley index down on the day so far. the fattest moving real estate market in the country shows the number homes uncontract in 24 hours or less, and the past five months, phoenix has 540 of the so-called flash sales, the most of many, and hoes is -- san jose is the 15th highest. the inventory shortage and higher buyer demand is fueling the instant sales and los angeles has more coming in at 7th and sacramento at eight. live from the new york stock exchange for your news. exchange for your news. >> the morning newsys of walking to give a breast cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the
? cypress, an actual country allegedly, is aiming to rescue the economy by raising 10% of the people's fake accounts. on tuesday lawmakers from the tiny african nation will vote on a plan that will allow them to vacuum up citizen savings. as a condition to receive a 12 billion euro dash that's -- that's not a dollar. and they are rushing to take out their money which lead to the government shutting down all of the banks until at least thursday. most upset about all of this is the russian president, vladimir putin. they are rumored of depositing 19 billion euros in the cypress banks. anyway, let's go live to cypress. >> leave him alone, man. >> almost as good as a hawk eating a mouse video. >> what did this mean for america? and america ferarra as a country. >> cypress is to russia as the caymen islands is to the united states. i don't think it is going to affects our banking system. they had that choice. either that country defaults or they tax the banks and it is the russian money that is in there. >> let's say you have money in the caymen islands. >> oh, i do, greg. >> you probably do. an
the recession that follows on as they try and make the economy back on track. this was done because some european countries believed to be the fins and germans and other northern european countries wanted to make sure they were not seen as bailing out rich russian who have accounts in cyprus. or indeed they now felt that people had to pay their part of the pain. but it was not done in ireland. it was not done in portugal. it was not done in greece. and with the prospect of possibility of spain and italy, you can see -- i cannot find, michael and suzanne, i cannot find one economist or banker that i've spoken to today that says this was a good idea. everybody agrees it was a pretty awful policy. >> let's bring in alison. i want you to weigh-in on the conversation here. we're looking at the u.s. markets. looks like it's down by eight points or so. what is the impact do you think in the united states? >> it's actually come back a long way, hasn't it? >> michael, it really has. you saw the knee-jerk reaction right when the bell opened the dow dropped as much as 110 points. obviously it's com
and local government levels. and throughout he understands that our economy works best when the middle class and those working to get into the middle class have the security they need on the job, a democratic voice in the workplace, everybody playing by the same set of rules. tom's knowledge and experience will make him an outstanding secretary of labor. and there's plenty of work to d. we're going to have to work very hard to make sure that folks find jobs with good wages and good benefits. we've got to make sure that our veterans who are returning home from iraq and afghanistan have a chance to put their incredible skills and leadership to work at home. we need to build an immigration system that works for every employee and every family and every business. i'm confident that tom's going to be able to work to promote economic growth, but also make sure that that growth is broad based. and he's going to be an sbre gal part of our team. these are a few of the families are facing and where they need an advocate and tom's the right person for that job. so i hope that the senate will act swiftl
and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is basically government-owned anyway now. david: what i don't understand, maybe you can explain it to me, erin, why is it, these are international banks. i can understand cypriot banks. that is different situation. some of those might be bought out by the russians anyway. if i have an international bank and an international account in an international bank in cyprus or spain, in international currencies, euros, why can't i move my operation to another country that is not at risk? >> will, i think is exactly what they're worried about. that is why there's a bank holiday cyprus. the banks are expected to reopen on thursday and they're
to make sure that we're growing our economy and that we're strengthening our middle class. and as i said at my state of the unigallon address last month, every day we should be asking ourselves three questions. one, how do we make sure america's a magnet for good jobs. number two, how do we quip people with the skills they need to get those jobs and, number three, how do we make sure that hard work actually pays off in a decent living. these are the challenges that i've instructed my team here at the white house and in my entire cabinet to focus on. and a position that's instrumental to tackling these challenges is having an outstanding secretary of labor. so i want to begin by thanking hilda solis and her entire team. [applause] including acting secretary harris. [applause] for the outstanding work that they've been doing over the past four years. their efforts at the department of labor have given more young people a chance to we were new skills, more returning vets the chance to find a job, they've looked out for worker safety from construction sites to coal mines, they've stood up fo
definitely. >> reporter: which means this beautiful i the fate of the european and perhaps world economie nick schifrin, abc news, cyprus. >>> all right, statue of liberty which was shut down after hurricane sandy set to reopen in time for fourth of july. the statue itself survived the , bulad sits badly d. making it uoritor repairs should be compl summer trav >>> after a relentless final few weeks of winter, we are pleased to report that spring arrives. at 7:02 eastern time. just a few hours from now. as abc's ginger zee reports it's welcome news for the northeast after another major winter storm. >> reporter: it is like a broken en plows down. shovels out and that familiar sound. spring is just hours away yet nowhere in sight. >> so much for the groundhog, huh? i think he got that one wrong. >> it's ridiculous. we are tired of it. >> reporter: so is judy. >> i still have snow banks like this. it is not going away. we are all miserable. >> reporter: she had to close her bakery for the first time ever. thanks to the snow >> tims no bad. this year it is constant. >> i'm sick of
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